We Asked, You Answered: Credit Card is Biggest Budget Breaker

Last week, we polled our readers on their monthly expenditures. And what did we discover? Our debts continue to haunt us and gobble up a big chunk of our paycheck and yet we still prefer the luxury of eating out rather than cooking at home. (Perhaps, most of the money is spent on booze, to drink the economic sorrow away?)

Our poll shows that a third of our readers (31 percent) spends most of its monthly budget paying off credit card bills. Trailing in at second place with 23 percent are those who spend the bulk of their paycheck on dining out.

Maybe it's time to consider packing a lunch? That could save at least $50 per workweek or $2500 a year, considering we splurge during our allotted one- to two-week vacations.

Electric bills (18 percent) and grocery shopping (17 percent) nearly tied for third place. About 6 percent of readers said that phone bills put a big dent in their monthly budget. And we at Rented Spaces think it's time you searched for a new phone plan! There's no reason why your phone bill should exceed the amount of money you spend on feeding yourself.

And finally, coming in at last place are commuting costs with 5 percent. And we, commuters who frown at the fare hikes, can totally sympathize.

*This poll reflects the opinions of only those Internet users who have chosen to participate.